The VA Streamline Refinance, also called the IRRRL, refinances your existing VA loan into a lower rate with minimal paperwork. No appraisal in most cases. No income verification in most cases. No out of pocket cost if you roll the fees in.
The Interest Rate Reduction Refinance Loan, known as the IRRRL or VA Streamline, refinances your existing VA loan into a new one at a lower rate. It skips most of the steps a normal refinance requires. No appraisal in most cases. No income documentation in most cases. No out of pocket cost if you choose to roll the fees into the loan. If rates have dropped since you got your VA loan, this is worth a 10 minute conversation with your Loan Officer.
The IRRRL has one of the simplest qualification processes in mortgage lending. There is no minimum credit score set by the VA, and most lenders only require that your loan is current.
If you have not used your VA loan benefit yet, see how the $0 down VA purchase loan works.
See VA Purchase Loans →